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No-one wants their home to be repossessed. In fact, it’s probably one of the most feared things any property owner could ever face. Not only is it frightening and stressful but it can negatively affect your future financial situation.

Property owners can fall behind on their bond payments for many different reasons including redundancy, bereavement, divorce or separation or just over-extending themselves financially. When you begin to fall behind in your payments, the bank will contact you to find out what’s going on, why the payments aren’t made and to ask when you’ll be able to make your payment. And if you’re thinking that selling property is a quick and easy task, you may be unpleasantly surprised.

A lot of people make the mistake of avoiding the phone calls and letters they receive from the bank. They live in a sort of denial of their financial situation instead

When the bank or other financial institution threatens to take repossession of your home it can be a very tense and disturbing period in your life. One of the nastiest things that could happen to us is to be told that the roof over our heads is going to be taken away and there’s nothing we can do about it. This can be rather unsettling and can cause a lot of stress in your day-to-day life. However, if you take action you can sell your home to a company who specialises in buying and selling property, before repossession proceedings start.

Actually there are things that you can do to avert repossession from happening in the first place. Plenty of real estate owners are not aware of this and simply allow the banks to claim their home without taking steps to prevent repossession. At this point one

House repossession is possibly the most distressing and scary experience a property owner can go through. There is no blow quite as devastating as knowing you’re going to lose your house. Everything you’ve saved for and dreamed about will be gone. As horrible as this sounds, hundreds of people in South Africa, as well as other parts of the world, go through this every year. Their most valuable asset, gone.

The Economy has been very hard on everyone with soaring interest ratings and inflation that just won’t seem to slow down. Homeowners that may have started their home bond paying a low interest rate are now paying a high rate, making it very difficult to keep up with the monthly payments. Some homeowners have had to refinance and have two mortgages on their home. With the value of their house falling, refinancing is not an option to help

Becoming a property owner is everyone’s dream. Regardless of where you live or whether you’re single or part of a large family, owning a house is a dream shared by most. Although many people are able to buy a home, not every homeowner is lucky enough to be able to keep their home.

Financial difficulties often make it impossible to continue to make the bond payments, which often make the bank begin the repossession process. This can be a very stressful and frightening experience for the homeowner and their family. Occassionally they have difficulty making their bond payments because of redundancy, health problems, death in the family, divorce or similar problems. Occassionally they are forced to sell, and selling property when stressed and under pressure can be a nightmare task.

Too many homeowners suddenly give up and think they have no choice but to lose their home just because

There are probably few things that real estate owners are more afraid of than the prospect of losing their property. Being a homeowner and having a home to provide for your family is a dream of many but one that can quickly turn into a nightmare when there is a chance of having it repossessed.  Having your home repossessed is not only a very stressful experience for the home owner and their family but can also affect their future financial stability.

When you sign your bond or bank mortgage agreement, the terms and conditions state that they can repossess your house if you fail to make your monthly bond payments. You may suddenly have difficulty making your monthly payments due to circumstances that are not your fault such as job loss, divorce, and death of a family member or similar situations. However, the bank has no way of knowing why